Tuesday, May 21, 2013

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Checking your eligibility for earned-income tax credit
Posted: 01.28.2013 at 7:52 PM
KTVO Newsdesk
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Heartland residents can start filing the federal tax returns on Wednesday.

Before taxpayers hit send on their return, the Internal Revenue Service wants to make sure that have checked their eligibility for the earned income tax credit.

The tax credit is designed to provide a financial boost for Americans making less than $50,000.

The tax credit could mean $475 for workers with no children, but families with three or more children could be entitled to more than $5,000.

Unlike most deductions and credits, the EITC is refundable. In other words, those eligible may get a refund from the IRS even if they owe no tax.

The credit will not be automatically applied; workers who wish to receive the credit must specifically claim it on their 2012 return.

Click here for frequently asked questions about the EITC.

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